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Trump’s Waikiki record sets up Mexico resort By Justin Hunter

All 464 units in the Trump International Hotel & Tower in Waikiki, Hawaii sold out Thursday November 9, 2006 in the first of what was meant to be a two-day sale. The $700 million inventory sold out in only eight hours, which set a new world record for the total amount of units and dollars changing hands in a residential real estate transaction in a single day.
The Waikiki hotel trumped the previous record of 318 units and $425 million sold by the Vancouver-based Intrawest Corporation’s Maui resort last December.
According to the article, “$700M in Trump tower sales hit world record,” written by Allison Schaefers and published in the November 11, 2006 edition of the Star Bulletin, Trump said, “I predicted that Trump Tower Waikiki would be the most luxurious development in Hawaii, and buyers responded.”
Location is always the constant mantra for selling real estate but the Trump name emphasized the detail and luxury included in the Waikiki hotel.
This is exciting news for San Diego-based Lyons Enterprises Incorporated (LEI) as they are one of the preferred lenders for the new Trump Ocean Resort Baja Mexico.
Trump has teamed up with Irongate Developing to create a luxurious 526 resort-hotel in North Baja California. With breathtaking views of the Coronado Islands and Pacific Ocean, this lavish development, which is located merely 30 minutes south of San Diego will provide its residents and guests five-star quality living and entertainment associated with the Trump name.
The resort will comprise of three 26-story towers upon build-out by late 2010, with the first (middle) tower currently under construction and projected to be completed by 2008. The middle tower is currently selling its 196 units.
The spectacle of the Trump Ocean Resort Baja Mexico is the affordability of these condominiums, starting in the mid-$200,000s with only a $5,000 deposit. Condominiums in the first tower range from a 700 square-foot studio up to a three bedroom 4,500 square-foot penthouse.
With Trump’s focus shifting from the Waikiki hotel to the Baja resort, expect the marketing efforts to increase over the next couple of months. The more affordable units will be the first to go as more investors learn of the resort.
“Trump Ocean Resort Baja will redefine the standard of premier property ownership and service excellence for all of Northern Mexico,” Trump said in the article, “Trump Organization and Irongate Developing 526 Suite Hotel Condominium Resort in North Baja, Mexico, Near San Diego,” posted on hotel-online.com
Trump is joining the emerging Mexico real estate market at a time when United State’s-based real estate companies are getting involved. As the U.S. housing market continues to cool, the Mexico market is on the verge of a “boom” of its own.
LEI has also developed the LEI Mexico division, which offers foreign investors to Mexico the chance to obtain a 30-year amortized mortgage in U.S. currency or a 20-year amortized mortgage in peso currency as offered by their sister company, Pinnacle Realty, located in Tijuana.
The Trump Ocean Resort Baja Mexico will add to the already growing popularity of Baja as a vacation and real estate investing destination. The resort will be the icon of the area, hosting the best bars and restaurants.
Trump is the new face of Mexico real estate development, which will be a common staple in most investment portfolios over the next couple of years.

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